Page Industries shares plunge 13% as higher RM costs hit Q2 profitability; can festive demand drive a recovery?

Page Industries, the Indian licensee of Jockey and operator of Jockey-branded innerwear, saw its shares fall roughly 13% after the company reported that higher raw material costs weighed on its second-quarter profitability. The transmission channel runs through input-cost margin compression: raw material costs (such as yarn and other petrochemical-linked inputs) rose faster than the company could pass them through to consumers, squeezing operating margins in a business where pricing power is typically limited in value segments. Because Page's earnings are concentrated in domestic apparel demand, the sell-off signals to traders that consumer discretionary names with thin pricing buffers face heightened earnings-revision risk when input inflation reasserts itself. The key near-term catalyst is whether festive-season demand in India, typically concentrated in the October-November window, lifts volumes enough to offset margin pressure, with traders watching company commentary on pricing actions and early retail sell-through data.

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